What percentage of the loan is given of the total collateral? In addition, if the loan contract is for 30 days, but within 15 days the borrower pays the loan, will the interest on the loan be reduced?
Depends on your
Crypto Credit Score, a better credit score = lower collateral
It will be freedom of choice. Those who want to stay fully anonymous can do so, but they have to pay for this privilege with higher interest rates and collateral requirements. Those who are ready to open up their data — will monetize their data, and they will receive better conditions.
if the loan contract is for 30 days, but within 15 days the borrower pays the loan, will the interest on the loan be reduced?You can't do that because SmartCredit gives stability to both lenders and borrowers with
Fixed Interest rate and Fixed loan maturity.
-
Fixed Interest Rate is the opposite of the fluctuating interest rate. Both sides will not be exposed to the herding movements of the market.
-
Fixed Loan Maturity will reduce the collateral requirements to the borrowers.
Without Fixed interest rate, the interest rates are fluctuating and when the market thinks that Ethereum is moving up, then DAI will be borrowed — this drives the DAI interest rates up
When the market thinks, Ethereum is moving down, the opposite will happen.
Borrow #crypto with SmartCredit in 20 seconds! https://twitter.com/smartcredit_io/status/1389164951445573634